Italy’s Grilli: officials committed to market exchange
NEW YORK (Reuters) – Italian Finance Minister Vittorio Grilli said on Monday that there is strong support from the Group of 7 for market-determined currency rates, a comment that comes amid suspicion that some countries are acting to depress their currencies in order to boost their economies.
The G7 leading industrialized nations are considering issuing a statement this week reaffirming their commitment to “market-determined” exchange rates in response to talk of a currency war, two G20 officials said earlier on Monday.
Emerging market CDS trade volume drops 39 pct in 4th qtr -EMTA
NEW YORK, Feb 8 (Reuters) – Trading in emerging market
credit default swap contracts fell 39 percent in the fourth
quarter to $142 billion, the result of stricter bank risk
limits, rising concerns over the U.S. fiscal cliff and sovereign
credit downgrades, a new survey shows.
Data released on Friday by EMTA, the trade association for
the emerging markets debt trading and investment industry,
showed the 2012 full-year trading volumes fell 23 percent to
$809 billion, from $1.054 trillion in the prior year.
Euro broadly stronger; US dollar up on yen after jobs data
NEW YORK, Feb 1 (Reuters) – The euro hit a 14-month high
against the U.S. dollar and 33-month peak against the yen on
Friday, the beneficiary of stronger-than-forecast euro zone
manufacturing data and expectations of easy monetary policy form
Washington and Tokyo.
Friday’s U.S. jobs data reaffirmed expectations the U.S.
Federal Reserve will maintain its stimulative monetary policy,
thereby making the greenback less desirable.
Euro posts best month in over a year; U.S. jobs data eyed
NEW YORK (Reuters) – The euro rose to a 14-month high against the dollar on Thursday, heading for its best month in over a year as signs of recovery in the euro zone’s economy set the currency on a bullish trend.
The yen fell to a 2-1/2-year low against both the U.S. dollar and euro, extending its recent decline on expectations of further monetary easing in Japan.
US dollar at 14-month low vs euro as Fed policy unchanged
NEW YORK, Jan 30 (Reuters) – The U.S. dollar slid to a
14-month low against the euro on Wednesday after the U.S.
Federal Reserve maintained its $85 billion-a-month bond-buying
program to spur economic growth.
The Fed repeated its pledge to buy securities until the
outlook for employment “improves substantially.” It also held
interest rates near zero.
U.S. dollar at 14-month low vs euro, Fed keeps easy policy
NEW YORK, Jan 30 (Reuters) – The U.S. dollar slid to a fresh
14-month low against the euro on Wednesday after the U.S.
Federal Reserve kept interest rates near zero and maintained its
bond-buying program to spur economic growth.
The Fed’s decision to maintain its $85 billion a month
bond-buying program is geared toward boosting the economy and is
not likely to stop until the outlook for unemployment improves
substantially.
EXCLUSIVE: Israeli finance chief expects cuts to defense spending
NEW YORK (Reuters) – Israeli Finance Minister Yuval Steinitz, fresh from a record-setting sale of Israeli bonds to investors in Florida, said on Monday that balancing the government budget will require “moderate but still significant” cuts to the defense sector.
In an exclusive interview with Reuters, Steinitz, a leading member of the weakened Likud party of hawkish Prime Minister Benjamin Netanyahu, also said there are no plans to further raise taxes in order to hit a deficit target of 3 percent of economic output.
Exclusive: Israeli finance chief expects cuts to defense spending
NEW YORK (Reuters) – Israeli Finance Minister Yuval Steinitz, fresh from a record-setting sale of Israeli bonds to investors in Florida, said on Monday that balancing the government budget will require “moderate but still significant” cuts to the defense sector.
In an exclusive interview with Reuters, Steinitz, a leading member of the weakened Likud party of hawkish Prime Minister Benjamin Netanyahu, also said there are no plans to further raise taxes in order to hit a deficit target of 3 percent of economic output.
Israeli finance chief expects cuts to defense spending
NEW YORK, Jan 28 (Reuters) – Israeli Finance Minister Yuval
Steinitz, fresh from a record-setting sale of Israeli bonds to
investors in Florida, said on Monday that balancing the
government budget will require “moderate but still significant”
cuts to the defense sector.
In an exclusive interview with Reuters, Steinitz, a leading
member of the weakened Likud party of hawkish Prime Minister
Benjamin Netanyahu, also said there are no plans to further
raise taxes in order to hit a deficit target of 3 percent of
economic output.
Real estate negotiations, Argentina style
There’s not too much one can do when a government minister marches into your office and essentially tells you to get lost. On April 16, 2012, the normal Monday morning routines unfolded with greater tension in the Buenos Aires offices of Spanish energy company Repsol’s YPF subsidiary. As top planning executive Carlos Jiminez and his colleagues were watching President Christina Fernandez unveil plans to seize control of YPF and nationalize Argentina’s leading energy producer, the unthinkable happened.
“About 30 minutes before she finished her speech, the undersecretary of planning and the state representative on the (YPF) board, Roberto Baratta, marched in and said the business relationship was ended,” Jiminez recalled after a luncheon in New York this week.
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